Buying cryptocurrency doesn’t need to be difficult. While some platforms focus on adding tons of features, they forget to ensure those features are easily usable. Coinsquare is feature-rich and easy to use so everyone, no matter your level of trading experience, can buy cryptocurrency easily and simply.
The process of buying cryptocurrency is much like buying one type of fiat currency, like euros, for another, like US dollars. When you want to buy cryptocurrency, for example Bitcoin, you select which currency you want to get in exchange, either a cryptocurrency or a fiat currency. On Coinsquare, once you select your two currencies - the one you’re buying and the one you will use to pay for it - you pick how much you want to buy and then execute the trade.
In the cryptocurrency world, buying sometimes requires more planning than with other items. You’ll need to know which cryptocurrency you want, like Bitcoin, Ethereum, Litecoin, XRP, or another one. You’ll also need to know all the available pairings that a trading platform offers - some have more than others.
If you know exactly which currency you want, all you have to do is choose a platform that carries that currency. If you want a more niche currency like a small altcoin, you may need to buy Bitcoin or Ethereum first on a platform like Coinsquare and then move to an altcoin exchange to purchase your smaller coin.
When it comes to buying cryptocurrency, you will need an account on a trading platform like Coinsquare funded with either fiat currency (like euros or Canadian dollars) or cryptocurrency.
Most accounts follow some form of KYC (know-your-customer) process, so you’ll need to be prepared with identification like a passport or driver’s license to verify your identity with the trading platform.
Different platforms have different trading interfaces, so the one you go with depends on the features you need. If you plan on doing highly advanced trading, including stops and limits, then you may like some platforms over others. Same goes if you want a simple two-click buying experience. Coinsquare offers both quick and advanced trading options for users.